HTML 5 video playback is possible using the Safari web browser on iOS and Mac OS X. I've seen it work on other browsers, but not reliably. You can try it yourself by inserting this code into an HTML page and referencing an HLS stream from your Wowza server, as an example:

WebRTC seems to be the solution we're all searching for. HLS (HTML5) is not a good alternative to RTMP since it has such a high latency, changing the definition of real time to "maybe in 30 seconds" time. I'm really hoping Wowza releases WebRTC support very soon. Otherwise we're going to feel the pain of less folks using Flash.